Exclusive | Shein’s London IPO plan in regulatory limbo as investors grow jittery, sources say
- Plans for a quick blockbuster public listing by Shein have run into roadblocks, according to people familiar with the matter
Some major shareholders of the Singapore-based company have lost patience with the 15-year-old firm’s fundraising plans and are privately asking Shein to consider buying back their shares, said one person briefed on the situation, speaking on condition of anonymity to discuss internal matters.
Private trading of Shein shares continues to take place amid concerns over the limited expected returns from a London IPO, another person said. Both sources declined to identify the investors seeking to cash out.
The concerns of shareholders adds to the challenges Shein has faced while searching for a place to host its public debut. More troublesome for the online retailer is the regulatory vacuum it finds itself in owing to its Chinese origins and operations, said a person who is familiar with the procedures for companies to conduct offshore IPOs.
Shein did not respond to repeated requests for comment.
